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<br />February 26, 2020, Work Session – Item 1 <br />OPTION 2: Delayed Implementation- Same as the original proposal, but with a two-year delay on <br />implementation. The advantages of this option include: <br /> Allowing bond projects to be supported with SDC funds <br /> Predictability of future fees and revenue <br /> Responsive to public testimony by delaying fee increase The disadvantages of this option include: <br /> Proposed lower rates/incentives for smaller single-family and multi-family homes will not go into effect for two years <br /> Limited funding for other priority one projects until bond completion <br />OPTION 3: Phased Implementation- Same as the original proposal, but with a four-year phase-in <br />plan. The advantages of this option include: <br /> Allowing bond projects to be supported with SDC funds <br /> Proposed lower rates for smaller single-family and multi-family homes will go into effect in year one <br /> Predictability of future fees and revenue The disadvantages of this option include: <br /> Partially responsive to public testimony by reducing the impact of a fee increase through a longer phase-in period <br /> Limited funding for other priority one projects until bond completion <br />OPTION 4: Status Quo- Do not increase fees or change rate structure for two years and review for <br />possible fee increase and progressive rate structure within two years. The advantages of this option include: <br /> Allowing bond projects to be supported with SDC funds <br /> Responsive to public testimony by delaying fee increase The disadvantages of this option include: <br /> Proposed lower rates for smaller single-family and multi-family homes will not go into effect for at least two years <br /> No predictability of future fees and revenue <br /> No funding for other priority one projects until bond completion